Work starts on China’s long-awaited Disneyland

Walt Disney Co. and Chinese officials broke ground yesterday on mainland China’s long-awaited first Disneyland, with hopes high that Mickey Mouse and friends will be a hit in the country of 1.3 billion.

Walt Disney Co. chief executive officer Bob Iger was joined by the entertainment giant’s Chinese partners and top Shanghai officials in plunging golden shovels into the ground to launch construction at a ceremony in the bustling city.

The ceremony capped more than a decade of negotiations with the Chinese government to bring the “Magic Kingdom” to the mainland and Iger called it a “significant milestone” in Disney’s history.

“Our Shanghai resort will be a world-class family vacation destination that combines classic Disney characters and storytelling with the uniqueness and beauty of China,” Mr Iger said.

Construction of the 24.4 billion yuan ($3.7 billion) project in Shanghai’s Pudong district is expected to take five years. Disney already has a theme park in the southern Chinese territory of Hong Kong.

Disney is a minority shareholder in the project, holding 43 per cent, with government-run Shanghai Shendi Group Co. holding 57 per cent, a Disney statement said.

Mr Iger was joined by Shanghai Communist Party Secretary Yu Zhengsheng and other Chinese officials at a colourful ceremony featuring singing Disney characters including Mickey Mouse in traditional Chinese dress.

Shanghai Disneyland will have “all-new attractions and experiences tailored specifically for the people of China,” the company statement said.

Its ownership structure mirrors that between Disney and the Hong Kong government, but the company is hoping the Shanghai park will prove more successful than its Hong Kong predecessor.